AGCO to acquire GSI Holdings

AGCO announced that it has
agreed to acquire GSI Holdings Corp. (GSI) from affiliates of New York-based
Centerbridge Partners, L.P. for $940 million.

With annual revenue of over $700 million, GSI is a leading global manufacturer
of grain storage and protein production systems. Headquartered in Assumption,
Illinois, GSI sells its products globally through more than 500 independent
dealers. The transaction is expected to close before the end of 2011, subject
to regulatory approval.

"GSI is an excellent fit with AGCO and will allow us to extend our reach
in the agricultural industry and provide our customers with an even wider range
of products and services," stated Martin Richenhagen, AGCO's Chairman,
President and Chief Executive Officer.

"With its high quality products and services, recognized brands and global
capabilities, GSI gives us strong positions in the grain storage and protein
production segments and is well-positioned to benefit from increases in global
grain and food demand."

"Today marks the beginning of a very exciting chapter for GSI," said
Scott Clawson, President and Chief Executive Officer of GSI. "Through this
combination, we will create a stronger business for our customers and employees
that will allow us to maximize our growth opportunities, both domestically and
abroad. GSI's long and proud history will continue as part of the AGCO
family."

AGCO's global presence along with its manufacturing and purchasing capabilities
will provide additional opportunities to GSI for growth and operational
efficiencies. GSI will also significantly enhance AGCO's sales and
profitability in its North American region. The transaction is expected to be
immediately accretive to earnings and cash flow. AGCO has received committed
bank financing from Rabobank to finance the transaction and refinance existing
credit lines.